Fiberglass Fabric Industry - Regional Synopsis
North America Market Statistics
Fiberglass Fabric market in the North America, amongst the market in all the other regions, is anticipated to hold the largest with a share of about 40% by the end of 2037. The market’s expansion in the region is also expected on account of growing usage of wind energy. The main renewable energy source in the US is wind, a homegrown resource that supports the country's economic expansion.
The amount of wind energy used in the US to produce electricity climbed to over 380 billion kWh in 2021, according to the US Department of Energy. In 2022, wind turbines accounted for around 10.2% of the electricity generated at the utility-scale in the United States.
APAC Market Analysis
The APAC region will also encounter huge growth for the fiberglass fabric market till 2037 and will hold the second position owing to the increasing manufacturing of printed circuit boards in this region. The largest manufacturer of printed circuit boards in the world is China since the country supports its PCB sector as part of its Made in China 2025 goal, allocating subsidies to important industries such as electrical transmission and medical equipment.
Moreover, India's building sector is a major force behind the nation's economic growth fueled by the country's increased infrastructure spending, growing need for urban homes, and the rise in commercial development projects. All these factors are expected to fuel the demand for fiberglass fabric market in the region.
